Bliss point (economics)
In economics, the bliss point is a quantity of consumption where any further increase would make the consumer less satisfied.[1][2] It is a quantity of consumption which maximizes utility in the absence of budget constraint. In other words, it refers to the amount of consumption that would be chosen by a person so rich that money imposed no constraint on their decisions.
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References[edit]
- ^ Binger, B.; Hoffman, E. (1998). Microeconomics with Calculus (2nd ed.). Addison-Wesley. p. 113. ISBN 0-321-01225-9.
- ^ Nason, J. (1991). "The Permanent Income Hypothesis when the Bliss Point is Stochastic" (PDF). Federal Reserve Bank of Minneapolis Discussion Paper 46.
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